In case you do not know what this list is about, go here to read the full details.
Now let's talk about this year's G00D B00K Brand.
This year, being the second year we're doing this, Wema Bank made this list for a number of valid reasons, but first let's take a look at the brand's information.
Brief
Headquartered in Lagos Nigeria. Wema Bank is a Nigerian commercial bank that was founded on May 2 in the year 1945 as (Agbonmagbe Bank)
It was owned by the late Chief Matthew Adekoya Okupe. And the bank remained his until 1969 when Western Nigeria Marketing Board took over its operation and it was renamed.
In 1987 the bank became a public limited liability company, and shortly after, precisely in 1990, they got listed on the (NGX) Nigeria Stock Exchange, trading as Wema Bank.
Why Wema Bank Made This List
Unlike other players in the banking industry, Wema Bank has never waited for the future to happen, they created the future at every given moment.
For example, Wema took the banking industry by storm when they launched and aggressively promoted their fully paperless digital banking platform Alat (Alat by Wema) in 2017.
At the time when other banks were still struggling with enhancing or getting a hang of their in-house basic online banking services. Wema broke the record by creating what was never expected at the time, and it became a huge success, till date.
Wema Bank pioneered the biggest shift in the Nigerian banking sector, and till date, this single innovation has been what other counterperts are modeling and building their products around.
How They Made This List
Going by what standard banking should be, Kustomers was able to qualify Wema Bank for this year's G00D B00K list. They've been able to incorporate and maintain these operational standards while ensuring that their customers always have access to quality service, at all time.
A Breakdown:-
Ease: With Wema, you're guaranteed ease when it comes to banking services - Over the years, customers have continued to speak good of how well the customer care unit consistently attend to their needs or queries.
You know at Worldkustomers, we're particularly interested in customer satisfaction.
People Oriented: Wema wants her customers or basically anyone who interacts with any of their services to succeed. It is what drives the creation of all their products, including the #1. paperless banking service in Nigeria, Alat by Wema. Not to forget their community based financial support platform Sara by Wema which focuses on funding innovative business ideas by women. This is the first time we were seeing a bank offering a completely no collateral loan with as low as 9% interest loan in Nigeria.
And there are other benefits such as, Capacity Building Programs that are organised by Wema bank to help groom those who are beneficiaries of their loans, in other to ensure they truly succeed, this is done in a bid to drastically reduce failure rate. Members can also benefit from the "health insurance program offered by Sara by Wema initiative, discounts and deals, amongst other things.
What's More?:
As the world is looking at ways to go carbonless and first world countries are making efforts to promote a greener way of life, business operations and industrialisation - We looked at how Wema was able to quickly key into this vision as far back as 2017, 6 years ago.
Sustainability: Through it's paperless banking service/app Alat, Wema bank became the leading bank to adopt 100% digitization in Nigeria. No matter how minute you think this effort was at the time, it sure did spark a chain reaction that has changed the way banking is done in Nigeria and most other African regions today.
Inclusion: Long before it became a chorus that other players in the banking sector now sing, Wema already projected how financial inclusion could be easily achieved, especially in the age of mobile devices - So, the Alat app was a breakthrough in this regard.
Financial Discipline: Again, Unlike when everything had to be done in person and in a physical branch of a bank - It was really a pain. This was a big barrier for most people who wanted to build a saving culture. Thanks to it's Alat app, it enabled people of different ages, gender and various work backgrounds to save towards a goal or multiple goals using their mobile devices.
Manual processes became completely automated, and it made banking much more easier than what it used to be, especially in Nigeria, a country with rapidly growing economy and fast tech adoption ecosystem.
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